(For more retail coverage, click GlobeSt.com/RETAIL.)

SAN FRANCISCO-Gryphon Investors, a San Francisco-based private equity firm said Monday that it has closed on its acquisition of G.I. Joe’s Inc., a 26-store sporting goods chain based in Wilsonville, OR. Terms of the transaction were not disclosed.

G.I Joe’s stores are located in Oregon and Washington. Ranging from 36,000 sf to 70,000 sf, they carry a full line of sporting goods, apparel and footwear and related merchandise. The chain’s gross revenue for the current fiscal year is expected to top $240 million.

Wells Fargo Retail Finance reportedly provided the acquisition loan. Houlihan Lokey acted as financial advisor to G.I. Joe’s Inc. G.I. Joe’s Chairman Norm Daniels says the company’s management will remain in place and continue to expand the chain.

“Joe’s is extremely well-positioned in its market and has a truly differentiated knowledge of the Northwest outdoor lifestyle and experience,” says Gryphon Investors partner Kurt Kaull in a statement. “The company has a proven ability to grow same store sales and successfully roll out new stores… .”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.